TUCSON, ARIZONA, March 13, 2023 — Highlighted this week is a commercial lease for 3,00 square feet at 3200 S. Dodge Blvd. and 3210 S. Dodge Blvd. in Tucson, to Espresso Wrench Maintenance Co. Paul Hooker, SIOR, Principal, and Andrew Keim with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

The following Tucson commercial leases were reported to Real Estate Daily News from March 6 – 10, 2023.

INDUSTRIAL – 3200 S DODGE BLVD., TUCSON 85713, South
Espresso Wrench Maintenance Co. Inc. renewed their lease with Pegasus Tucson Owner LLC for a combined 3,000 square feet of industrial space at South Dodge Business Center, 3200 S. Dodge Blvd., Suite 1, and 3210 S. Dodge Blvd., Suite 3 and 4, in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL –   3820 S PALO VERDE RD., TUCSON 85714, South
Brett Interiors, Inc. renewed its commercial lease with Pegasus Tucson Owner LLC for 2,923 square feet of industrial space at Palo Verde Business Center, 3820 S. Palo Verde Rd., Suite 106 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 245 S PLUMER AVE., TUCSON 85719, Central
CopperZap LLC renewed its lease with Pegasus Tucson Owner LLC for 2,400 square feet of industrial space at Commerce Plaza, 245 S. Plumer Ave., Suite 8 & 9 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

RETAIL – 4261 W INA RD., TUCSON 85741, Northwest
Kyle Creviston & Christy Creviston / Dream Big Little Co., has leased 2,100 square feet at 4261 W. Ina Road, Suite 101, in the Sun Creek Center, from Sun Creek, LLC.  David Blanchette of NAI Horizon represented the Tenant and Robert Nolan and Cameron Casey of Oxford Realty Advisors represented the Landlord in this transaction.

INDUSTRIAL – 1870 W PRINCE RD., TUCSON  85705, Central
Lorlie Investments Group Corp. renewed their lease with Pegasus Tucson Owner LLC for 1,440 square feet of industrial space at Exchange Place, 1870 W. Prince Rd., Suite B-13 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

OFFICE – 177 N CHURCH AVE., TUCSON  85701, Central
Axiscades, Inc. renewed its lease with TA Building Corporation for 1,362 square feet of office space at The Transamerica Building, 177 N. Church Ave., Suite 703 in Tucson. Thomas J. Nieman, Principal, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

RETAIL – 4500 E SPEEDWAY BLVD., TUCSON  85712, Northeast
Anachel Ebony Salon LLC leased 1,067 square feet of retail space at Midway Business Park, 4500 E. Speedway Blvd., Suite 7 in Tucson, from Pegasus Tucson Owner LLC. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 2430 W RUTHRAUFF RD., TUCSON 85705, Central
Field Distributors LLC renewed their commercial lease with Pegasus Tucson Owner LLC for 680 square feet of industrial space at Ruthrauff Commerce Center, 2430 W. Ruthrauff Rd., Suite 128 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

RETAIL – 4249 W INA RD., TUCSON 85741, Northwest
Jeremy Imes & Shannon Imes, has leased 462 square feet at 4249 W. Ina Road, Suite 119, in the Sun Creek Center, from Sun Creek, LLC for Jiu Jitsu Training.  Chris Tsighis of Coldwell Banker represented the Tenant and Cameron Casey of Oxford Realty Advisors represented the Landlord in this transaction.

OFFICE – 1955 W GRANT RD., TUCSON  85745, West
Amir Groups LLC leased 180 square feet of office space at West Grant Centre, 1955 W. Grant Rd., Suite 125-M in Tucson, from WestGrant Investors, LLC. Molly Gilbert, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Submit sales and leases to REDAilyNews@outlook.com

Plans Call for a Build-for-Rent Community, Bringing New Housing Inventory to the Verde Valley

Prescott, Ariz. (March 13, 2023) – Camp Verde Land Holdings III, LLC, a developer of rental and affordable housing, purchased 26.63 acres in Yavapai County’s Opportunity Zone, with plans for a build-for-rent community and a commercial component.

Capri Barney with the Prescott, Arizona, office of Land Advisors Organization represented the seller, Verde Valley Holding Company LLC in the disposition of the property at the SEC of Highway 260 and Homestead Parkway, located in Camp Verde, Arizona. Verde Valley Holding Company has two additional land parcels in their portfolio that remain for sale in the Opportunity Zone.

“The Verde Valley in general has a lack of housing inventory, and particularly a lack of affordable housing,” Barney said. “Unlike many municipalities that resist the rezoning of properties to allow for higher density and affordability, the Town of Camp Verde has been willing to allow the development of higher density projects to help fill the housing needs of the members of their community.”

The flexible C-2 zoning of the property purchased by Camp Verde Land Holdings III, LLC allows for a broad range of business and residential uses, including multi-family, manufactured, modular and/or site built. The remaining properties with RR-2A (rural residential) and C-3 (commercial use) zoning provide high visibility along Highway 260 and are in an area of strong growth.

The land is in an Opportunity Zone, an economic development tool created for the purpose of spurring economic growth and job creation in distressed areas and low-income communities in the U.S. by providing tax benefits to investors.

The buyer was co-represented by Bryce Perez of Re/Max Fine Properties and Celtic Property Management.

TUCSON, Ariz.  – March 10, 2023– CBRE arranged a 7,024-sq.-ft. lease at the former Sweet Tomatoes location at 6202 East Broadway Blvd. in Tucson to ST Three, LLC, who plans to renovate and reopen the restaurant in the coming months.

CBRE’s Nancy McClure represented the building owner, JKJ Fairview LLC, in the transaction, and NAI Horizon’s Gordon Wagner and Ben Craney represented the tenant. 

“We first started talking with the tenant last summer, and the operating manager spent time bringing in contractors to understand the scope of work,” said CBRE’s Ms. McClure. “He indicated the concept [Sweet Tomatoes] had and continues to have a strong following with patrons still active on Facebook and Instagram sites.” 

Sweet Tomatoes and Soup Plantation restaurants closed amid the pandemic. ST Three, LLC purchased exclusive rights and all intellectual property associated with the brands and has retained former Sweet Tomatoes operators to reopen the Tucson location, which originally operated from 1996 to 2020.

“Reactivating a well-located, large-format restaurant building will certainly be a boon to the Broadway and Wilmot intersection. Although the restaurant industry showed immense resilience in getting through the pandemic closures and operating restrictions, today, we have fewer US restaurants (chains and independents) than in the past 25 years,” added Ms. McClure.